A purchase order for less than 100 shares of stock is called
A)an odd lot.
B)an even lot.
C)a split order.
D)a broken lot.

Question

Quizplus · Accepted Answer

An odd lot is a purchase order for less than 100 shares of stock. The term "odd" refers to the fact that the number of shares is not a round, even lot. In contrast, an even lot is a purchase order for a multiple of 100 shares, such as 100, 200, or 500 shares.

A Purchase Order for Less Than 100 Shares of Stock